Wells Fargo analyst Ike Boruchow lowered the firm’s price target on Bath & Body Works to $40 from $48 and keeps an Equal Weight rating on the shares. The firm is cautious into Q2 EPS, and is lowering its Q2 estimates and cutting second half of the year numbers. The story continues to struggle finding a bottom, and following weak checks throughout Q2, Wells expects things will get worse before they get better.
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